Politico: Fed aims to lay groundwork for interagency CRA overhaul
National Community Reinvestment Coalition head Jesse Van Tol, whose organization is suing the OCC over its CRA rule, said the Fed “doesn’t appear to introduce new problems” through its approach, in contrast to its fellow regulator.
“Also unlike the OCC rule, which had something for everyone to hate, this proposal has something for everyone to like,” he added. “That’s not to say everyone will love where they’re headed, but for those who don’t love it, I expect it to go down like cough syrup as opposed to like a s— sandwich (the OCC rule).”
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